Moneys deposited in the affordable housing fund along with any interest earnings on
such moneys shall be used to increase and improve the supply of housing affordable
to workforce, moderate, low and very low income households. Moneys may also be used
to cover reasonable administrative expenses not reimbursed through processing or other
fees, including: i) reasonable consultant and legal expenses related to the establishment
and/or administration of the affordable housing fund; ii) reasonable expenses for
administering the process of calculating, collecting, and accounting for in-lieu and
housing impact fees, and iii) county administrative costs for the development, permitting,
and the ongoing monitoring of affordable housing projects constructed with affordable
housing fund moneys. No portion of the affordable housing fund may be diverted to
other purposes by way of loan or otherwise.
(Ord. No. 3171, § 1, 12-9-08)
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